FTP lowering base
Is it true FTP is lowering base to 100k? Is the new rate for all analysts or just something they’re doing for intern?
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Not true
They lowered their SA to 100k lol
Why?
The FinTech gods giveth and taketh away…
Seriously though, tough to get deals done in the space right now. Hope everyone is doing OK. As a humble services banker I could never understand how FTP tricks smart investors into paying 40 times PF last-week annualized run-rate revenue
They unironically take a long-term approach I hear
Did they also reduce the internship length to 6 weeks or was that another bank
I’m seeing 110k roughly for a 6 week internship. What a joke
Actually, they're raising intern pay to $100k for 6 weeks, ~$17k/week. Gotta stay Vault #1 somehow
SA was $140k, they reduced it to $100k lol
The Vault ranking is fabricated - HR has a call with the interns that received return offers asking them to juice the surveys…
You’re telling me FTP pays 17k a week? And that 110k isn’t annualized? Holy shit. I should’ve paid attention in school
Lol if this actually true, then RIP to FTPinsider and his "140k base An1 btw" signature line.
Rough, but that’s what happens when you have to feed 300 mouths around an industry facing considerable market headwinds. Hopefully for the juniors that this is a sign that management won’t do another round of layoffs within the next few months and are resorting to trimming costs from elsewhere for now.
When did they lay people off?
December
Not true — just got my offer letter for SA2024 and it’s 110k base, not 100k, and they’re switching to 8 week internship from 6 week (was issued new offer letter and got call from HR about it today haha).
Did the original one say something different?
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